US Automotive Aftermarket Market

US Automotive Aftermarket Market Size 2024

US Automotive Aftermarket market size reached USD 260 billion in 2024 and is estimated to reach USD 348 billion in 2032 and the market is forecast to grow at a CAGR of 3.7% between 2025-2032 primarily driven by growing vehicle in operation (VIO), robust new vehicle sales growth coupled with rise in vehicle age and rising trend of car modification.

US Automotive Aftermarket Parts and Component Market Drivers

Surge in Vehicle in Operation (VIO)

US has one of the largest vehicle in operation (VIO), the vehicle in operation (VIO) reached around 290 million vehicles on the road, and the current composition of VIO is changing, in 2024 new vehicle under the age of 4 is reducing compared to vehicle older than 4 years. Growth of VIO coupled with changes in VIO composition is creating opportunities for aftermarket automotive parts players.

Robust New Vehicle Sales

US automotive industry is the one of the largest industry and second largest market in terms of vehicle production and sales in 2024 after China. The total light vehicle sales stood at 15.85 million units in 2024. Major auto manufacturers operating in US automotive market are Toyota, Ford, GM, Tesla, Honda, Nissan, Kia, BMW, Stellantis NV, Fiat and Daimler and many more.

Increase in Vehicle Age

The average vehicle age in US is growing and the average age of light vehicle reached 12.7 years in 2024, the current vehicle fleet is the oldest in US since 2012. As the average vehicle is on the rise, this is creating substantial opportunities for aftermarket market. The older vehicle go through more wear and tear and requires more repair and creates more demand for US automotive aftermarket.

Vehicle Modification

Surge in the demand for vehicle modification among car owners. OEMs are focusing on vehicle accessories to provide more comfort and convenience to meet the increasing demand of consumers, will enhance the market growth. R&D initiatives in the automotive industry is further projected to create new opportunities in the US automotive aftermarket. Rising trend of designing and remodelling of vehicles will further rises the demand for automotive aftermarket products.

US Automotive Aftermarket Parts Market Segment Analysis

US Automotive Aftermarket Market Replacement Parts Insights: Tire is estimated to dominate the market share

Increase in the sale of tire as it goes through more wear and tear and require frequent replacement of tires as compare to other replacement parts. The demand for tires is driven mainly due to steady demand from light trucks and passenger vehicles in US. The demand for other replacement parts are also forecast to grow owing to rising vehicle age, growing VIO etc.

US Automotive Aftermarket Market Vehicle Type Insights: Passenger vehicles segment is projected to grow at the faster CAGR.

Passenger vehicles and light trucks dominated the VIO and dominated the US aftermarket and this trend is projected to continue in forecast period. Collectively all service parts combined together also generates a large chunk of automotive aftermarkets revenue. The light commercial vehicle aftermarket market is projected to grow at a robust rate till 2032.

US Automotive Aftermarket Market Certification Type Insights: Genuine parts segment is estimated to hold the largest market share

Genuine parts market is driven by the growing awareness about the original parts benefits among vehicle owners as it improves the efficiency and performance of the vehicle. Genuine replacement parts market is driven by customer’s preference for quality, reliability and also provides greater assurance of quality and warranty of replacement parts offered by the car manufacturers. Genuine parts are made by the same company that made your car. These components are designed to comply with the requirements and high standards of the car manufacturer. The major benefits of genuine parts is their compatibility guarantee. As these parts are designed for the precise make and model, it fits well, as it is meant to perform. OEM parts often include a warranty, assuring that vehicle owners do not have to worry about damage or breakdown.

The demand for certified is also forecast to grow at a robust growth rate during the forecast period as certified parts are manufactured by the same manufacturers who build parts for the OEM. While these parts doesn’t carry the logo of OEM, OES parts are the same as brand new parts found on brand new vehicles being lighter on the pocket compared to genuine parts.

Aftermarket parts demand is steady owing to its lower price compared to genuine and certified parts however the quality of aftermarkets vary from manufacturer to manufacturer. Some aftermarket parts can meet the quality standards of genuine or certified parts while at the others maybe of lower quality.

US Automotive Aftermarket Industry Major Players & Competitive Landscape

Several leading companies are Toyota, ACDelco, Ford, Denso, Robert Bosch, Delphi, Champion, Valeo, Bridgestone, Hella, Continental and many more.

In US, although the automotive aftermarket M&A space is witnessing a slowing down owing to factors such as higher interest rates, higher inflation, marred macroeconomic affected by geo political uncertainty but there is optimism for M&A to rebound in 2025.

US Automotive Aftermarket Industry News

• • In 2023, Delphi Technologies, part of BorgWarner Inc. planned to expand its product portfolio and aftermarket innovation in fuel pump & power electronics components across US. Through this expansion, the company will strengthen its position in automotive industry.
  • In 2023, ZF Friedrichshafen AG extended its support for more than 73.5 million vehicles in US and Canada. The company also introduced 47 parts for brake pad sets which will be available for more than 11.9 million VIO.
  • In 2022, Continental AG opened new automotive manufacturing plant in Texas, US. This facility was built in 215,000 m2 area and invested USD 110 million. Through this expansion, company planned to create more than 500 new job opportunities in the state.
  • In 2021, Goodyear Tire completed the acquisition of Cooper Tire & Rubber company worth of USD 2.5 billion. The company planned to expand its tire manufacturing footprint through three new plants with the production capacity of 97,000 units per day in US.
  • In 2021, Lear Corp. announced that it is the lead investor for the Series C round of financing in CelLink Corporation, a San Carlos, California- based manufacturer of a new class of flat and flexible circuits that minimize complexity, space, and weight.

US Automotive Aftermarket Market Scope of the Report

US Automotive Aftermarket Market Research Report Segmentation

US Automotive Aftermarket has been segmented on the basis of vehicle type, replacement part and certification. Based on the vehicle type, the market has been segmented into commercial vehicles and passenger vehicles. By replacement parts, the market is segmented into tire, battery, brake parts, filters, Lighting Components, Electronic components, Lubricants, Clutch Parts, Engine Components and others. Based on certification, the market has been segmented into Genuine Parts, Certified Parts, Counterfeit Parts, Others.

US Automotive Aftermarket by Vehicle Type

• • Commercial Vehicles
  • Passenger Vehicles

US Automotive Aftermarket by Replacement Parts

• • Tire
  • Battery
  • Brake Parts
  • Filters
    • Air Filter​
    • Oil Filter​
    • Others​
  • Lighting Components​
  • Electronic components​
  • Lubricants​
  • Clutch Parts​
  • Engine Components
    • Timing Belt​
    • Spark Plugs​
    • Others​
  • Others

US Automotive Aftermarket by Certification

• • Genuine Parts
  • Certified Parts
  • Counterfeit Parts
  • Others

US Automotive Aftermarket Leading players

• • Toyota
  • ACDelco
  • Ford
  • Denso
  • Robert Bosch
  • Delphi
  • Champion
  • Valeo
  • Bridgestone
  • Hella
  • Continental